The US Presidential Election is still quite a long way off but President Trump has already made a bold prediction - that if he is not re-elected, the United States's economy will surely experience a monumental market crash that, as the Republic president remarks, is something never been seen before.
Just recently, the controversial POTUS tweets about his administration's achievements, particularly of his claims about the remarkable performance of the US economy under his presidency. Bloomberg reports that Trump is set to start his presidential campaign Tuesday this week in Orlando, Florida, and this is going to be one of the things that he will be touching on for the entire duration of the campaign.
One of the things that Trump claims is that had not the Federal Reserve imposed higher interest rates in the previous year, the United States stock market would have been 10,000 points at a maximum higher, and yet, despite the ordeal, he has still reiterated that the Trump Economy has been setting records.
Perhaps, facetiously, he has also said that if the country desires to crash its market, they should impeach him.
However, Trump's bold claims do not seem to agree with facts. In a study by Macrotrends, the US economy has been middling under the current administration, and is, in fact, lagging behind the economic accomplishments of the previous administrations; and if indeed there are economic gains at some points of his presidency, these have merely resulted from the economic workings of Obama and Clinton.
In recent weeks, Trump's foreign policy has proven to be discouraging towards his claims. The S&P 500 index has been soaring high in May until it slumped following his trade war against China. Not only that, despite tensions that take place in the trade relationships between the United States and China, which significantly resulted in increasing commodity prices,
Trump does not appear to lower down his ego a little bit in order to logically deal with the economic turmoil that hurts not just the Chinese economy but also the United States's economy.
The campaign period is just within the corner and one of Trump's weapons in his arsenal is his 'allegedly' impressive economic accomplishments. However, in a survey conducted by economists, sponsored by Bloomberg News, the likelihood that the United States will experience a recession has increased to 30%.
He might need some time to deal with the reality of slowing job gains, higher tariffs, and increasing commodity prices before he could freely exploit the claims he has made about the US economy.